Suntrust Resort Holdings nominated longtime Independent Director Eugenio B. Reducindo. The Board approved this decision during its meeting on September 23, 2024, as disclosed in a Tuesday filing.
Suntrust, a company listed in the Philippines, is currently developing the $1.1 billion Westside City integrated resort. This project is located in Entertainment City, Manila. The company plans to open the resort in the first quarter of 2025.
Reducindo has served as an Independent Director at Suntrust since October 2015. He remains eligible for re-election under the company’s Revised Manual on Corporate Governance. The manual limits independent directors to a maximum of nine cumulative years. However, the Board may allow exceptions if there is a compelling justification. His reappointment highlights his ongoing value to the company.
The Board emphasized three key factors for his re-election. First, they cited his proven independence. Second, they recognized his extensive expertise. Third, they pointed to his strong support from stockholders.
Besides his role at Suntrust, Reducindo manages Choice Gourmet Banquet, Inc. He acts as the Managing Director there. He oversees the operations of 16 McDonald’s outlets. These outlets span Metro Manila, Cebu, and Iloilo. His vast experience in managing quick-service and fine dining restaurants strengthens his leadership at Suntrust. Overall, his skills greatly enhance his contributions to the company.
